Santander 123 Lite - conversion to Everyday Account from 21 August 2025?

Stargunner

I already have a sole and joint edge account, as well as my 123 lite. I have 2, to allow me to have 2 edge savers. As you can only have 2 edge accounts, i am guessing that I will need to close one of my edge accounts before I can convert my 123 lite to an edge acc. I want to convert my lite to an edge for the cashback on bills.

friolento

The end of an era.

It was a lovely account.

Can't decide yet what I will do.

brewerdave

friolento said:

The end of an era.

It was a lovely account.

Can't decide yet what I will do.

Oh for the days of the original 123 account(s), stuffed with up to £20k !
I will lose ~ £80 per year staying with Edge so I'll be moving my services elsewhere - just need to research.
IF I was a synic, I'd say that they are prepared for an outflow ready to sell the remaining customers onwards !!

where_are_we

"Oh Well" - apologies to Peter Green!

Like all good things it was too good to last.

badger09

Disappointing but not entirely unexpected. I’ll miss the cashback which was good while it lasted. 

Olenna

Section62 said:

Sea_Shell said:

We were considering a move away from Santander, this might just be the deciding factor.

I'd been thinking about moving my direct debits away - I'm now only just covering the fee with cashback, and with useful SMS alerts being stopped soon the risk of a DD failing due to low balance will increase going forward. As the charge for one failed DD could wipe out more than a year's net profit on the cashback the 123 (/Lite) account doesn't look anything like as worthwhile as it did in the old days.

I thought Santander no longer charge for failed Direct Debits (on their paid accounts anyway) as that's why I helped a friend upgrade to 123 Lite as they used to bounce Direct Debits left, right and centre. 

Just checked and they now waive the failed Direct Debit fee on the free Everyday account too so they should be good to go.

HillStreetBlues

The taking of Santander 123

Hattie627

This will be the demise of the "123" account branding. Era, end of, as someone already said.

Sea_Shell

Is the Edge saver continuing?    With the introductory rate of 6%?   

We would break-even with our current 123 Lite, if we put just £550 into the Edge saver

Ponders a bit more.....


ETA - the flaw in my logic is that doesn't take into account what that £550 would otherwise be earning elsewhere.   If so, I'd only effectively get the "difference" between say *4% and 6%....

More pondering....


*Not sure which account it would effectively be moved from...I have many!! 

fergie_

The amount of cash back more than halves for me on the Edge account compared to 123. The 6% saver almost makes its worth it, but that's a 'bonus' rate for 12m.

The comparison tool under the calculator tab still lists the 123 lite account:

https://www.santander.co.uk/personal/current-accounts/santander-edge-current-account